More than 1,000 filmmakers, actors and industry professionals have signed an open letter opposing Warner Bros. Discovery’s proposed $110 billion merger with Paramount Skydance, warning the deal would reduce competition, deepen industry consolidation and harm creators and audiences.
The letter, released Monday, names actors including Jane Fonda, Joaquin Phoenix and Mark Ruffalo among its signatories and argues the merger would mean fewer opportunities for creators, pressure jobs across the production ecosystem, higher costs and less choice for viewers. It says prior waves of consolidation have already cut the number of films produced and narrowed the range of financed and distributed stories.
Industry observers say the letter rallies opponents but may not by itself derail the transaction. Regulators in the U.S. and Europe are expected to scrutinize the deal; California Attorney General Rob Bonta has said the state is probing the merger and will conduct a “vigorous” review.
Paramount issued a statement: “This transaction uniquely brings together complementary strengths to create a company that can greenlight more projects, back bold ideas, support talent across multiple stages of their careers, and bring stories to audiences at a truly global scale—while strengthening competition by ensuring multiple scaled players are investing in creative talent.
“We have been clear in our commitments to do just that: increasing output to a minimum of 30 high-quality feature films annually with full theatrical releases, continuing to license content, and preserving iconic brands with independent creative leadership —ensuring creators have more avenues for their work, not fewer.”